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Crude oil continues fall to hit 4-year low amid oversupply

It has fallen 25% from the mid-June peak; analysts say prices will drop further unless Opec cuts output

US crude fell US$1 a barrel to US$80.84 after posting its largest fall in a single session in nearly two years on Tuesday - PHOTO: REUTERS


BRENT crude fell to a fresh 47-month low on Wednesday before recovering to just above US$84 a barrel as faltering global growth curbed demand for fuel at a time of heavy oversupply.

Oil saw its biggest daily fall in more than three years on Tuesday after the West's energy